BIS Representative Office for Asia and the Pacific

21 April 1998

Press release

The Bank for International Settlements (BIS) is pleased to announce that it plans to establish a Representative Office for Asia and the Pacific in the Hong Kong Special Administrative Region of the People's Republic of China. The negotiations on the necessary legal arrangements between the Chinese Government and the BIS have recently been concluded. It is expected that the Office will be opened at the beginning of July.

The Representative Office will serve as a regional centre for the activities of the BIS in Asia and will, in particular, aim to strengthen relations and improve information exchange among central banks and monetary authorities in the region.

(A Press Release on the establishment of the BIS Asia Office has also been issued by the Hong Kong Monetary Authority.)